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When double entry for transaction appear on both side the cash book is called?
Wiki User
∙ 10y ago
When double entry for both side of cash books appears that type of transaction is called contra entry as in double column cash book entry for receiving or paying cash in bank or from bank requires entry on debit as well as credit side of cash book.
Wiki User
∙ 10y ago
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What is double entry bookkeeping for a hospital?
Double entry is a transaction in which the payment is established in two accounts instead of 1 as to single entry.
What is purchases return and the double entry?
Purchase return - this is the outward return by the firm While double entry is when you have entered the transaction twice
The recording of debit and credit parts of a transaction is?
double-entry accounting
Should Double-entry accounting transactions be equal or unequal?
In Double entry accounting system both the debit part as well as credit part of transaction should be equal otherwise accounting transaction is not complete properly.
Does a reversing entry reverse an adjusting entry or a transaction entry?
Reversing entry can be make to reverse any entry whether it is actual transaction entry or any adjusting entry.
What is double entry bookkeeping for a hospital?
Double entry is a transaction in which the payment is established in two accounts instead of 1 as to single entry.
What is purchases return and the double entry?
Purchase return - this is the outward return by the firm While double entry is when you have entered the transaction twice
The recording of debit and credit parts of a transaction is?
double-entry accounting
What is single entry and double entry?
Single entry system is that system in which only one side of entry either debit or credit is recorded while the other side of transaction is ommitted while in double entry system, both side of transactions debit and credit are recorded to complete the business transaction.
Should double entry accounting entries be equal?
In Double entry accounting system both the debit part as well as credit part of transaction should be equal otherwise accounting transaction is not complete properly.
Should Double-entry accounting transactions be equal or unequal?
In Double entry accounting system both the debit part as well as credit part of transaction should be equal otherwise accounting transaction is not complete properly.
What is entering transaction data on a form called?
data entry
What is double-entry bookkeeping?
Double-entry bookkeeping is a method of recording business transactions. For every debit entry, there must be one or more credit entry. Total debits must equal total credits for each transaction.
What is the structure of a journal entry?
Recording of a transaction in an accounting journal, such as the General Journal. The journal entry has equal debit and credit amounts, and it usually includes a one-sentence explanation of the purpose of the transaction is called journal entry.
Does a reversing entry reverse an adjusting entry or a transaction entry?
Reversing entry can be make to reverse any entry whether it is actual transaction entry or any adjusting entry.
The double-entry system requires that each transaction must be recorded?
in at least two different accounts.
What is book of original entry?
"Journal" is called as book of original entry because at the occurance of any business transaction, entry is first of all recorded in journal.
